Solana has surpassed Ethereum for monthly decentralized exchange (DEX) trading volume for the first time in crypto history.

Solana Solana
SOL
-4.63%
Solana DEX volume hit $55.8 billion in July, outpacing on-chain trading activity on Ethereum Ethereum
ETH
-1.24%
Ethereum between July 1 and July 31, per DefiLlama. 

Ethereum, the largest chain for decentralized finance, recorded $53.8 billion in the same period. Layer-2 networks like Arbitrum and Base and L1 blockchain Binance Smart Chain comprised the most volume after Solana and Ethereum.